CHAPTER 353

Chapter 353 Redevelopment Missouri

Chapter 353 encourages redevelopment and community revitalization by offering up to 25 years of incremental property tax abatement as an incentive for redevelopment in an area deemed "blighted." As the area is redeveloped, property taxes will increase along with property values. Chapter 353 offers a chance to eliminate or minimize the effect of that increase on their own property tax bill in exchange for their contribution toward improving a blighted area.

During the first 10 years, Chapter 353 allows for 100% of new property tax increases to be abated. In the following 15 years, only 50% of the property tax increase is required. D2 works with developers to secure Chapter 353 abatement for their redevelopment projects and use it to attract ideal business and building candidates to the development.